💥 “If blockchains are so secure, why are there so many hacks?”

A fair question — especially after the recent $CETUS exploit on Sui. So let’s break it down.

Most of what you hear aren’t blockchain hacks — they’re app-level issues. Here are some examples:

🔹 Ethereum (June 2016)

The DAO got exploited via a smart contract bug (reentrancy).

$150M gone.

Led to a huge debate and the ETH/ETC hard fork.

🔹 Sui (May 2025)

Cetus Protocol was hit — $200M–$260M drained from a liquidity pool.

$162M got frozen, rest moved to Ethereum.

🔹 Binance Smart Chain (Oct 2022)

PancakeBunny and Venus lost ~$60M from oracle + contract errors.

Sparked concerns over overall security quality of BSC at the time.

🔹 Solana (Aug 2022)

Slope Wallet users lost $9M; staking bug added another $5M.

Layer 1 stayed intact, but users panicked.

🔹 Avalanche (Dec 2021)

Platypus Finance DeFi app got exploited for $8.5M.

Not Avalanche's fault — core chain remained secure.

🔹 Polygon (Aug 2021)

$600M yanked from PolyNetwork via a bridge flaw.

Again, not a Polygon issue — bridges are often the weak spot.

🔹 Tezos (Sep 2020)

ICP staking pool glitch — $20M lost.

Core protocol untouched.

🔹 Cardano (Dec 2022)

MuesliSwap DEX got hacked for $3M.

Just a Layer 2 app, not the base chain.

🔹 NEAR (Aug 2021)

Ref Finance exploited for ~$3M via smart contract bug.

NEAR chain stayed secure. Devs responded fast with asset recovery and a Frozen List.

🚨 The Truth:

These aren’t Layer 1 failures — they’re:

DApps (like DAO or MuesliSwap)

AMMs/DEXs (like Cetus or Platypus)

Bridges (like the Poly hack)

Wallets (like Slope Wallet)

Staking infrastructure issues

👉 The underlying chains? Mostly untouched. But public trust still takes a hit.

✅ As of now, base chains like Bitcoin, Ethereum Classic, Avalanche, Cardano, and NEAR have never suffered a core protocol exploit.

So yeah — blockchain itself is secure. It’s everything built on top that gets messy.

Stay smart. Don’t just look at the chain — look at the app.

#blockchain #Layer1 #HackerAlert